NAB - End of the line
NAB is still stuck in it's channel.
This is what we know
- bond rates continue to fall overseas and locally
- RBA rate cuts continue, margins further squeezed
- AUS house prices appreciate albeit low volumes (as a result, lower total transactions)
- economy seems to be doing better
So we're at a pinch point. nothing decisive in the macro.
however, NAB's current position is that it maintains dividends. Also new CEO.
There's 2 x good reasons for SH to accumulate the stock.
I believe we'll test the top of the channel, re-test the recent low, and then break out LONG once re-approaching the channel.
LONG to $28 within 6 months
Saucy
This is what we know
- bond rates continue to fall overseas and locally
- RBA rate cuts continue, margins further squeezed
- AUS house prices appreciate albeit low volumes (as a result, lower total transactions)
- economy seems to be doing better
So we're at a pinch point. nothing decisive in the macro.
however, NAB's current position is that it maintains dividends. Also new CEO.
There's 2 x good reasons for SH to accumulate the stock.
I believe we'll test the top of the channel, re-test the recent low, and then break out LONG once re-approaching the channel.
LONG to $28 within 6 months
Saucy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.